Hassan Maishera
The Pancakeswap team told its community via Twitter on Monday that it has burned 6,783,974 CAKE tokens (worth $23 million) this week. The decentralized exchange generated $484,000 (141k CAKE tokens) in trading fees for its Swap and Perpetual market. The Predictions and Lottery markets generated 76k CAKE ($261k) and 35k CAKE ($121k), respectively. The NFT marketplace generated 2,171 CAKE ($7k). The Pancakeswap IFO also generated 6k CAKE ($21k) last week.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up by 1% today and is currently trading at $3.441.
